Steel maker Hoa Sen sets dividend record date and outlines business plans for FY 2022-2023
Hoa Sen Corporation (HSG) has issued an announcement stating that April 25 will be the cutoff date for shareholders to be eligible for the annual dividends for the financial year 2022-2023.
Hoa Sen Corporation (HSG) has issued an announcement stating that April 25 will be the cutoff date for shareholders to be eligible for the annual dividends for the financial year 2022-2023.
According to the announcement, shareholders will receive a cash dividend of 5 per cent per share, amounting to VNĐ500 per share. With a total of over 615.9 million shares in circulation, the estimated payout by the corporation is expected to reach approximately VNĐ308 billion (US$12.3 million). The dividend payment is scheduled for May 10.
Looking ahead to the fiscal year 2023-2024 (covering the period from October 1, 2023, to September 30th, 2024), Hoa Sen has devised two business plan scenarios. In the first scenario, they anticipate a sales volume of over 1.6 million tonnes, generating a net revenue of VNĐ34 trillion and an after-tax profit of VNĐ400 billion. In the more optimistic scenario, they project a sales volume of over 1.7 million tonnes, resulting in a net revenue of VNĐ36 trillion and an after-tax profit of VNĐ500 billion.
To achieve their targets for the 2023-2024 fiscal year, Hoa Sen's management is focusing on four solution groups: production-supply, business operations, cost control, and management of human resources. They aim to optimise their borrowing structure to minimise interest costs and reduce the risks associated with exchange rate fluctuations. Additionally, they plan to enhance their export activities to ensure a balance in foreign currency requirements for importing raw materials.— VNS
